NASDAQ$INVA

Innoviva Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Reported financial results for Q1 2020.

Innoviva reported an increase in global net sales for RELVAR®/BREO® ELLIPTA®, ANORO® ELLIPTA®, and TRELEGY® ELLIPTA® in the first quarter of 2020.

  • Global net sales of RELVAR®/BREO® ELLIPTA® increased 31% versus the first quarter of 2019.
  • U.S. net sales of RELVAR®/BREO® ELLIPTA® increased by 47% due to increased pricing discounts offset by a one-time significant positive prior period rebate adjustment and continued volume growth.
  • ANORO® ELLIPTA® global net sales increased 15% in the first quarter of 2020.
  • TRELEGY® ELLIPTA global net sales were $248.2 million.

Headline financials

Total Revenue

$78.7M

Previous: $55.2M+42.6%
EPS (adj)

$0.59

Previous: $0.31+90.3%
Capital Expenditures

-$13K

No prior period
Free Cash Flow

$78.9M

Previous: $40M+97.3%
Net Income

$79M

Previous: $40M+97.3%
Operating Income

$76.1M

Previous: $52.2M+45.9%
Gross Profit

$78.7M

Previous: $55.2M+42.6%
Cash & Equivalents

$352M

Previous: $65.2M+440.3%
Total Assets

$788M

Previous: $590M+33.5%
Stock-Based Comp

$435K

Previous: $605K-28.1%

Revenue & EPS history

Innoviva · Revenue · Quarterly

$78.7M

Q1 2020+42.6%vs Q1 2019
Beat estimate in 5 of 16 quarters(31%)
ActualEstimate

Forward guidance

The impact of the COVID-19 pandemic on the global sales of our three collaboration products is uncertain. First quarter sales levels may have benefited from unspecified levels of increased patient inventory stocking. The significant RELVAR®/BREO® ELLIPTA® positive prior period rebate adjustment that occurred during the first quarter is not likely to recur in future quarters.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

+1.4%

Avg return

Earnings day

+2.6%

Avg return

5 days after

+2.8%

Avg return

30 days after

55%

35 / 64 earnings

Positive

+19.4%

Q1 2012

Best reaction

-15.1%

Q2 2019

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.6%-0.6%-0.6%
Q4 2025-2.7%-8.0%-6.5%
Q3 2025+13.1%+20.1%+13.8%
Q1 2025-0.9%-2.6%+15.2%
Q4 2024-2.0%-1.8%+1.6%
Q3 2024+2.9%+3.6%-2.0%
Q2 2024+1.6%-3.6%+2.1%
Q1 2024-1.5%+4.2%+3.9%
Q4 2023-0.7%-3.1%-0.7%
Q3 2023+7.0%+10.0%+12.7%
Q2 2023-1.3%+1.3%-4.0%
Q1 2023+4.5%+8.5%+17.5%
Q4 2022-5.2%-8.3%-7.0%
Q3 2022+5.1%+2.6%+2.5%
Q2 2022-1.7%-1.3%-8.0%
Q1 2022+0.9%-5.2%-10.2%
Q4 2021+13.7%+24.5%+19.2%
Q3 2021+8.8%+9.2%+6.3%
Q2 2021+6.3%+10.2%+10.7%
Q1 2021+0.9%+0.7%+16.2%
Q4 2020+1.0%+1.3%-7.3%
Q3 2020+11.3%+6.4%+12.7%
Q2 2020+0.4%+0.7%-15.0%
Q1 2020+5.3%-0.2%+3.7%
Q4 2019+3.5%+3.5%-6.1%
Q3 2019+6.2%+10.8%+23.2%
Q2 2019-15.1%-10.4%-16.1%
Q1 2019+6.5%+6.6%-2.6%
Q4 2018-3.3%-6.1%-14.2%
Q3 2018+2.3%+7.7%+22.6%
Q2 2018-1.2%+1.5%+1.3%
Q1 2018-2.9%-0.3%-1.5%
Q4 2017+8.5%+19.5%+14.2%
Q3 2017-11.9%-14.0%-4.5%
Q2 2017+4.3%+4.7%-2.1%
Q1 2017-8.3%-9.6%-5.3%
Q4 2016+1.7%+7.9%+15.8%
Q3 2016-1.6%+4.2%+12.9%
Q2 2016+9.2%+8.9%-3.5%
Q1 2016-1.0%
Q4 2015+14.6%
Q3 2015+1.1%
Q2 2015-10.8%
Q1 2015-6.3%
Q4 2014+10.8%
Q3 2014-5.0%
Q2 2014+4.5%
Q1 2014-1.1%
Q4 2013-2.1%
Q3 2013+8.3%
Q2 2013-3.7%
Q1 2013+11.3%
Q4 2012-4.9%
Q3 2012-9.4%
Q2 2012-7.1%
Q1 2011-1.9%
Q1 2012+19.4%
Q4 2011+0.8%
Q3 2011+8.6%
Q2 2011+1.3%
Q4 2010-1.1%
Q3 2010+2.7%
Q2 2010+8.0%
Q1 2010-9.2%

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